The deadline to apply for the Chief Minister of Punjab’s e-taxi scheme has passed, and applicants are now waiting for the results.
The e-taxi project aims to promote environmentally friendly ride-hailing services, support the province’s green goals, and create job opportunities, especially for women. It is part of the government’s wider plan to cut down carbon emissions and encourage sustainable transport in the region.
Interest-Free Loans for Individuals and Fleet Owners
Under this scheme, individuals and fleet owners will be offered term finance to set up e-taxi businesses.
The Government of Punjab (GoPb) is providing an interest-free loan structure, ensuring a zero-percent markup rate for all borrowers.
For individuals, the maximum loan amount available is Rs4,550,000, while fleet owners or ride-hailing companies can receive up to Rs1,000,000,000 to support their business ventures.
Flexible Repayment Terms
The loan will be repaid in 57 equal monthly installments, which include both the principal amount and insurance. Borrowers will also receive a 3-month grace period before repayments begin, giving them enough time to establish their operations.
Special Focus on Women and Fleet Owners from Lahore
In a bid to empower women in the workforce, the scheme offers a special quota for women in the program.
E-Balloting Date
If the number of applications exceeds the available vehicles, selection will be done through an e-balloting system to ensure transparency and fairness in the distribution process.
The government is yet to announce the date for the e-balloting.
